Behaviors

IRVINE, Calif., April 8, 2008 /PRNewswire/ -- According to the latest
Kelley Blue Book Marketing Research study (http://www.kbb.com), an
increasing number of consumers say their purchasing behavior has shifted
and will continue to change significantly if gas prices continue to rise.
The latest 2008 results revealed that nearly 60 percent of vehicle shoppers
say gas prices have changed their minds or strongly influenced their
purchase decisions. Furthermore, 43 percent indicated they would seriously
consider a more fuel-efficient vehicle if gas prices were to swell an
additional 25 cents above current levels. Both measures are up 11 points
from the previous month's Kelley Blue Book Marketing Research study.
With average gas prices jumping from $2.97 to $3.27 in March, there is
ample reason to see why consumer attitudes are shifting. While the vast
majority of shoppers are indicating an alteration in their purchasing
behaviors, only 25 percent still have no intentions in changing their
behaviors, compared to 34 percent in February. The results also showed
consumers considerably more interested in all the various alternative fuel
technologies for fuel economy benefits and less for environmental reasons.
"The cost of gasoline is continually hitting new record highs, forcing
consumers to reevaluate their spending," said Jack R. Nerad, executive
editorial director and executive market analyst for Kelley Blue Book and
kbb.com. "This study shows just how many are willing to make better
economic choices in order to save money and increase fuel efficiency. More
fuel efficient models are available on the market and now consumers have
that choice."
The latest Kelley Blue Book Marketing Research study was conducted on
Kelley Blue Book's kbb.com among 1,100 in-market new-vehicle shoppers
during March 2008.
About Kelley Blue Book (http://www.kbb.com/sitemap)
Since 1926, Kelley Blue Book, The Trusted Resource(R), has provided
vehicle buyers and sellers with the new and used vehicle information they
need to accomplish their goals with confidence. The company's top-rated Web
site, kbb.com, provides the most up-to-date pricing and values, including
the New Car Blue Book(R) Value, which reveals what people actually are
paying for new cars. The company also reports vehicle pricing and values
via products and services, including software products and the famous Blue
Book(R) Official Guide. Kbb.com is rated the No. 1 automotive information
site by Nielsen//NetRatings and the most visited auto site by J.D. Power
and Associates eight years in a row. No other medium reaches more in-market
vehicle shoppers than kbb.com; nearly one in every three American car
buyers performs their research on kbb.com.